DFM:NIND Cash Flow Statement

Financials in millions KWD. Fiscal year is January - December.

Millions KWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	72.98	58.96	24.88	21.43	78.63
Depreciation & Amortization	13.55	12.72	13.12	8.97	9.17
Loss (Gain) From Sale of Assets	-	-	-	-	-1.41
Asset Writedown & Restructuring Costs	-31.98	4.7	-0.81	2.47	-0.34
Loss (Gain) From Sale of Investments	-	4.08	8.07	5.43	5.86
Loss (Gain) on Equity Investments	-42.19	-70.35	-66.96	-38.07	-30.84
Provision & Write-off of Bad Debts	-	-2.37	-0.46	1.99	3.8
Other Operating Activities	33.37	37.27	28.66	13.07	31.89
Change in Accounts Receivable	-5.97	-20.38	-12.49	-13.16	-1
Change in Inventory	1.38	1.05	-5.31	-3.95	-2.09
Change in Accounts Payable	15.47	-1.05	4.46	9.41	10.02
Change in Other Net Operating Assets	-1.4	-	-	-	-
Operating Cash Flow	12.58	-9.81	1.05	10.38	20.56
Operating Cash Flow Growth	-	-	-89.89%	-49.53%	-66.19%
Capital Expenditures	-9.7	-9.31	-5.6	-8.93	-5.94
Sale of Property, Plant & Equipment	-	0.01	0.12	0.48	0.85
Cash Acquisitions	-	-	-7.51	-1.33	-
Divestitures	-	-	-	-	4
Sale (Purchase) of Real Estate	-2.05	-14.27	-	2.18	-2.41
Investment in Securities	25.88	9.78	90.89	-98.95	22.8
Other Investing Activities	20.88	51.34	53.48	33.46	12.55
Investing Cash Flow	35	37.55	131.39	-73.1	31.85
Long-Term Debt Issued	68.09	30.01	21.58	38.1	29.61
Total Debt Issued	68.09	30.01	21.58	38.1	29.61
Long-Term Debt Repaid	-31.75	-2.7	-3.41	-17.96	-28.06
Total Debt Repaid	-31.75	-2.7	-3.41	-17.96	-28.06
Net Debt Issued (Repaid)	36.34	27.31	18.17	20.14	1.56
Issuance of Common Stock	-	-	-	104.38	2
Common Dividends Paid	-23.67	-11.39	-11.04	-23.66	-
Other Financing Activities	-53.3	-48.37	-43.83	-33.56	-22.39
Financing Cash Flow	-40.63	-32.46	-36.7	67.3	-18.84
Foreign Exchange Rate Adjustments	-0.76	1.87	-0.57	1.79	-0.48
Net Cash Flow	6.19	-2.85	95.17	6.36	33.08
Free Cash Flow	2.87	-19.12	-4.55	1.45	14.62
Free Cash Flow Growth	-	-	-	-90.11%	-69.20%
Free Cash Flow Margin	1.73%	-10.87%	-3.03%	1.13%	13.20%
Free Cash Flow Per Share	0.00	-0.01	-0.00	0.00	0.01
Cash Interest Paid	-	43.85	39.38	26.61	20.83
Cash Income Tax Paid	-	1.31	0.88	0.9	0.96
Levered Free Cash Flow	125.05	-64.26	-41.17	-24.7	-80.07
Unlevered Free Cash Flow	150.88	-36.56	-15.69	-8.96	-66.82
Change in Working Capital	-33.16	-54.82	-5.44	-4.91	-76.09

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.